Former New York Gov. George Pataki’s No American Debt begins running cable television advertisements in Iowa on Tuesday.

It directly targets Democratic President Barack Obama, who is running for a second term in 2012.

Pataki is chairman of No American Debt, a 501c4 political organization.

Here’s the script, narrated by Pataki:

“Both parties got us here.
Reckless spending. Record debt.
When Barack Obama’s bipartisan commission chartered a path, he ignored it.
When Republicans offered a plan, he attacked it.
His proposal?
Raise taxes. And cut spending—somewhere, someday.
That’s no plan.
We must do better.
Join us. You know we can do the right thing.
Every generations of Americans has.”